What’s the deal? Mamor Capital Ventures has reached a R300 million first close for Fund 1, giving the black women-owned and managed venture capital firm capital to begin backing post-revenue South African technology businesses. It is still raising towards a R550 million target.
Who’s backing it? The Public Investment Corporation anchored the fund and helped mobilise further institutional commitments. Additional backers include the High Impact Seed Fund of Funds managed by the SA SME Fund, the Technology Innovation Agency, and the Small Enterprise Development and Finance Agency.
What’s the endgame? Mamor Capital invests in scalable South African businesses that use technology to widen access to digital and financial services. Its mandate covers companies addressing financial access, digital infrastructure, and other barriers to economic participation.
Why now? The first close follows more than three years of fundraising, marking a shift from raising to deploying capital. “After more than three years of fundraising, reaching this first close is an important step for Mamor Capital and a strong endorsement from the institutions that have backed our strategy,” said founder and chief executive officer Mamokete Ramathe.
The firm targets post-revenue companies with proven demand. “We are looking for businesses that have moved beyond proving an idea and can show real commercial demand,” said co-founder and chief financial officer Fuzlin Levy-Hassen.
The signal: The PIC’s role points to a broader push to draw institutional capital into South Africa’s venture market. “We see significant potential in South Africa’s venture capital market and believe institutional investors can play a greater role in providing the long-term capital needed to support its development,” said PIC acting chief investment officer Leon Smit.
Published on Dealroom.co
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